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Acquit a Simple Domestic Transaction

Exit Slideshow. Acquit a Simple Domestic Transaction. Before you acquit a transaction, you must complete Acquittal Preparation. To do this, you: Attach the Electronic Tax Invoice to the transaction Link the transaction to the requisition.

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Acquit a Simple Domestic Transaction

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  1. Exit Slideshow Acquit a Simple Domestic Transaction Before you acquit a transaction, you must complete Acquittal Preparation. To do this, you: • Attach the Electronic Tax Invoice to the transaction • Link the transaction to the requisition. A separate slideshow for each of these steps is available from the EMS Acquittals Reference menu. When you have completed Acquittal Preparation, you are ready to acquit the transaction. This involves: • Allocating the amount of the transaction to the correct Project Code and • Providing a few more details about the transaction. This slideshow explains how to acquit a simple domestic transaction.

  2. To acquit the transaction: Click the X beside the first transaction you wish to acquit. Exit Slideshow Acquit a Simple Domestic Transaction

  3. Click Domestic Travel. Exit Slideshow Acquit a Simple Domestic Transaction

  4. This screen requires details about the cost components of the transaction. To record the GST you need to have the Tax Invoice on hand. A valid Tax Invoice must have the following: - the words "Tax Invoice" - the ABN of the supplier - the date of issue - the GST amount or - a statement that GST is included. If the tax invoice does not contain this information you cannot claim the GST. Record the full amount beside the expense type, e.g. accommodation, airfares. Exit Slideshow Acquit a Simple Domestic Transaction

  5. Click the GSTAmount field and type the GST component of the expense from the tax invoice. To automatically calculate the balance of the amount: Click the = button beside the expense type that the transaction relates to e.g. accommodation, airfares. For simple transactions this is all you need to record on this screen: Click Save to move to the next screen. Exit Slideshow Acquit a Simple Domestic Transaction

  6. The Account Codes screen enables you to check that the expense is allocated to the correct university Project Code. It is automatically assigned by the EMS to the Project Code that you use most often. However, you can change the code if it is not correct. Click the Drop Down beside the Project Code you wish to change. Select the correct Project Code from the list in the Drop Down, or use the Search option to select from your other Project Codes. Exit Slideshow Acquit a Simple Domestic Transaction

  7. Click the Tick beside Tax Invoice Obtained to confirm that you have the Tax Invoice for the transaction. Or Click the Cross if you do not have the Tax Invoice. If you do not have the Tax Invoice you must complete the EMS Lost Receipts Declaration form and attach it to the transaction in place of the Tax Invoice. Click ReasonforExpense (Mandatory) and provide further information concerning the reason for the expense, e.g. flight to Melbourne for conference. Click Save. The transaction is now acquitted and it passes automatically toyour Acquittal Approver. Exit Slideshow Acquit a Simple Domestic Transaction

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